Salem Investment Counselors Inc. Increases Position in The J. M. Smucker Company (NYSE:SJM)

Salem Investment Counselors Inc. boosted its position in The J. M. Smucker Company (NYSE:SJMFree Report) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 660 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Salem Investment Counselors Inc.’s holdings in J. M. Smucker were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of J. M. Smucker by 12.0% during the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock valued at $861,145,000 after purchasing an additional 762,746 shares during the last quarter. FMR LLC boosted its stake in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after buying an additional 958,142 shares in the last quarter. Dimensional Fund Advisors LP grew its position in J. M. Smucker by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock valued at $194,435,000 after acquiring an additional 135,158 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of J. M. Smucker by 14.4% during the second quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock worth $166,403,000 after acquiring an additional 192,075 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of J. M. Smucker by 16.5% in the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after acquiring an additional 192,748 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

SJM opened at $102.02 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The stock has a market capitalization of $10.86 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.46 and a beta of 0.28. The stock’s 50 day moving average price is $112.41 and its 200-day moving average price is $115.69. The J. M. Smucker Company has a 52-week low of $100.77 and a 52-week high of $134.62.

J. M. Smucker (NYSE:SJMGet Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm earned $2.59 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that The J. M. Smucker Company will post 9.89 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 4.23%. J. M. Smucker’s dividend payout ratio (DPR) is presently 87.45%.

Wall Street Analysts Forecast Growth

SJM has been the topic of several recent research reports. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price target for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. Finally, Barclays lowered their price objective on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $127.33.

Check Out Our Latest Stock Analysis on SJM

Insider Buying and Selling at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 994 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the transaction, the chief financial officer now owns 18,734 shares in the company, valued at $2,116,942. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.40% of the company’s stock.

J. M. Smucker Company Profile

(Free Report)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.

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Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

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